Rs 5,600cr NSEL scam: I-T dept denies info, FMC dodges queries

DEA says complaints related to alleged financial irregularities, as and when received, are forwarded to FMC

The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".

"Details of investigation being done by the Income Tax department cannot be divulged as this would hamper the process of investigation or apprehension or prosecution of offenders," it said in reply to an RTI query seeking details of probe against the bourse.

Replying to the RTI application, the Department of Economic Affairs (DEA) said the complaints related to alleged financial irregularities, as and when received, are forwarded to Forward Markets Commission (FMC).

The DEA also said that no investigation is being made by it against the NSEL, its supported or associated companies, their promoters and government officials for their alleged involvement in payment default case in the exchange.

"Complaints related to alleged financial irregularities, as and when received against the NSEL and its promoters, are forwarded to the FMC, Mumbai for action as appropriate," it said adding that the application was being forwarded to the commission for giving further information.

The FMC, in its reply to the application, said the information sought against NSEL "is not specified and is likely to pertain to third parties also".

"In case copy of any specific complaint is to be sought by the applicant then the same may be communicated to the Central Public Information Officer (CPIO) in the form of fresh RTI query on the same which can then be considered. The reference to financial irregularities "is not specific/clear", the FMC said in its reply.